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In an effort to estimate the mean amount spent per customer for dinner at an Atlanta restaurant, data were collected for a sample of 42 customers. The data collected resulted in a sample mean of $29. Based upon past studies the population standard deviation is assumed known with ? = $5.
Round your answers to two decimal places.
a. At 95% confidence, what is the margin of error?b. Develop a 95% confidence interval estimate of the mean amount spent for dinner.($( )to$( ))
Assume that potential rural-urban migrant would work for two periods ( of some length) in either the rural or the urban area.
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Using the following schedule, define the equilibrium price and quantity. Explain the situation at price of $10. What will occur? Discuss the situation at a price of $2. What will occur?
Explain, illustrating with graphs as necessary-be sure that the shape of your supply and demand curves make economic sense.
Find the optimal crude oil allocation in the preceding example if the profit associated with fiber were cut in half, that is, fell to $.375 per square foot.
During the 1990s, age cohort that grew the most rapidly was the 45-54 cohort, which has highest saving rate. Yet during that same period,
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Explain how have US economic or fiscal policies affected employment rates
Give salary subsidies to firms that hire the less-advantaged. Initiate a federal training program the raises the skills of poor individuals.
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